White-collar crimes often do not receive as much media attention because they are non-violent and financially motivated. People investigated for committing white-collar crimes are often powerful executives. However, white-collar crimes are becoming increasingly more complex due to recent technological advancements. Here’s a thorough breakdown of white-collar crimes and their classification:
Classification
Generally, white-collar crimes are classified based on individual crimes and corporate crimes. Money laundering and employee insider trading are common examples of corporate white-collar crime. Individual white-collar crimes are orchestrated by one person. Ponzi schemes, computer hacking, and identity theft are common examples of individual white-collar crimes. Brennan Law Offices will represent you if you need a white-collar crime attorney in Philadelphia.
Fraud
The most common white-collar crime is fraud. Today’s criminals often use multiple schemes to illegally obtain someone’s money. A common trick that criminals use is sending an invoice to someone for a lot of money in exchange for something. The criminal retains the money but fails to do what they promised.
Ponzi Scheme
Ponzi schemes involve fraudulent investing. The scam artist contacts excited investors about the possibility of securing a significant return. The way the Ponzi scheme works is that the initial investors will receive a return based on the funds of new investors. Once the scam artist is unable to receive enough new investments to pay off the older investors, the scheme folds. Most of the investors end up sustaining huge losses.
Identity Theft
Millions of people are impacted by identity theft every year. Hackers can gain sensitive information to impersonate someone else.
Insider Trading
Insider trading commonly involves employees learning confidential information that gives them an unfair advantage when investing in different financial markets. Employees commonly use insider trading to secure a larger return on their investment than anticipated.
Money Laundering
Money laundering involves criminals who manipulate potentially millions of dollars by funneling the money through multiple bank accounts and legitimate financial streams. By mixing the fraudulent money with legit revenue, the criminals can deny committing a crime.
Embezzlement
Embezzlement involves employees withdrawing money illegally or even transferring money from a company account into their accounts.
How Brennan Law Office Can Assist You
If you are researching for a white-collar crime attorney in Philadelphia to represent you, contact Brennan Law Office immediately. We will represent you and make sure that you receive the appropriate due process. Due to the sophistication of these allegations, you need representation that you can trust. The experienced lawyers here at Brennan Law Office will provide thorough advice regarding your options to ensure that you are informed throughout the entire legal process.